.Setting yourself up for trading success is about getting into the proper trading mindset and perhaps what’s harder, staying in that mindset. Most people can get into the right mindset and stay disciplined and focused for a few trades, but it’s often the results of those trades that throws people out of whack.
They start getting emotional; overconfident or afraid, depending on the result of their last trade. Don’t allow this to happen to you. Stick to the plan, to the strategy you have mastered. If you feel yourself getting frazzled then just read your trading plan again and take some time off from the markets to regroup, you will come back refreshed and re-focused.
Discipline, patience, overcoming mental hurdles, sticking to routine, understanding that your mind is the key. Mastering your mind is how you master the markets, and this is the glue that holds all of this together and that allows you to stay positioned to take advantage of obvious price action setups when they form in the market. This is the third step to setting yourself up for trading success.
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